Longmire Company has 20,000 shares of common stock outstanding. It declares a $1.00 per share cash dividend on November 15 to stockholders of record on December 1. The dividend is paid on Dec. 15. What entry is made to record the declaration of the dividend on November 15? No entry required O Debit to Dividends Payable for $20,000: Credit to Cash for $20,000 O Debit to Dividends Payable for $40,000; Credit to Cash Dividends for $40,000 O Debit to Cash Dividends for $20,000; Credit to Dividends Payable for $20,000